Financial statements (1 - 10 of 50 items)
Financial Audit: Securities and Exchange Commission's Fiscal Years 2016 and 2015 Financial Statements
GAO-17-158R: Published: Nov 15, 2016. Publicly Released: Nov 15, 2016.
GAO found (1) the United States Securities and Exchange Commission’s (SEC) and its Investor Protection Fund’s (IPF) financial statements as of and for the fiscal years ended September 30, 2016, and 2015, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) SEC maintained, in all material respects, effective internal control over...
Troubled Asset Relief Program: Status of the Wind Down of the Capital Purchase Program
GAO-14-388: Published: Apr 7, 2014. Publicly Released: Apr 7, 2014.
The Department of Treasury (Treasury) continues to make progress in winding down the Capital Purchase Program (CPP). As of January 31, 2014, Treasury's data showed that 624 of the original 707 institutions, or about 88 percent, had exited CPP. Treasury had received about $225 billion from its CPP investments, exceeding the approximately $205 billion it had disbursed. Most institutions exited by re...
Financial Audit: Securities and Exchange Commission's Fiscal Years 2013 and 2012 Financial Statements [Reissued on December 23, 2013]
GAO-14-213R: Published: Dec 16, 2013. Publicly Released: Dec 16, 2013.
GAO found (1) the United States Securities and Exchange Commission's (SEC) and its Investor Protection Fund's (IPF) financial statements are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) SEC maintained, in all material respects, effective internal control over financial reporting as of September 30, 2013, although internal control...
Municipal Securities: Options for Improving Continuing Disclosure
GAO-12-698: Published: Jul 19, 2012. Publicly Released: Jul 19, 2012.
Market participants indicated that primary market disclosure for municipal securitiesofficial statementsgenerally provides useful information, but investors and market participants cited a number of limitations to continuing disclosures. The most frequently cited limitations were timeliness, frequency, and completeness. For example, investors and other market participants said that iss...
Securities Regulation: Factors That May Affect Trends in Regulation A Offerings
GAO-12-839: Published: Jul 3, 2012. Publicly Released: Jul 3, 2012.
The number of Regulation A offerings filed and qualified (that is, cleared) by the Securities and Exchange Commission (SEC) has declined significantly after peaking in fiscal years 1997 and 1998, respectively. In particular, offerings filed since 1997 decreased from 116 in 1997 to 19 in 2011. Similarly, the number of qualified offerings dropped from 57 in 1998 to 1 in 2011. Securities attorneys GA...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2011 and 2010 Financial Statements
GAO-12-416: Published: Apr 19, 2012. Publicly Released: Apr 19, 2012.
In GAOs opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2011 and 2010 financial statements for the two funds it administersthe Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance Corporation (FSLIC) Resolution Fund (FRF). Also, in GAOs opinion, although certain internal controls related to the DIF shoul...
Troubled Asset Relief Program: Status of Programs and Implementation of GAO Recommendations
GAO-11-476T: Published: Mar 17, 2011. Publicly Released: Mar 17, 2011.
This testimony discusses our work on the Troubled Asset Relief Program (TARP), which Congress established on October 3, 2008, in response to the financial crisis that threatened the stability of the U.S. financial system and the solvency of many financial institutions. Under the original TARP legislation, the Department of the Treasury (Treasury) had the authority to purchase or insure $700 billio...
Management Report: Improvements Needed in SEC's Internal Controls and Accounting Procedures
GAO-09-376R: Published: Apr 2, 2009. Publicly Released: Apr 2, 2009.
On November 14, 2008, we issued our opinion on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2008 and 2007 financial statements. We also issued our opinion on the effectiveness of SEC's internal control over financial reporting (including safeguarding of assets) and over compliance as of September 30, 2008, and our evaluation of SEC's compliance with selected provisions of laws...
Information Security: Securities and Exchange Commission Needs to Consistently Implement Effective Controls
GAO-09-203: Published: Mar 16, 2009. Publicly Released: Mar 16, 2009.
In carrying out its mission to ensure that securities markets are fair, orderly, and efficiently maintained, the Securities and Exchange Commission (SEC) relies extensively on computerized systems. Effective information security controls are essential to ensure that SEC's financial and sensitive information is protected from inadvertent or deliberate misuse, disclosure, or destruction. As part of...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2006 and 2005 Financial Statements
GAO-07-371: Published: Feb 13, 2007. Publicly Released: Feb 13, 2007.
GAO is required to annually audit the financial statements of the Deposit Insurance Fund (DIF) and FSLIC Resolution Fund (FRF), which are administered by the Federal Deposit Insurance Corporation (FDIC). GAO is responsible for obtaining reasonable assurance about whether FDIC's financial statements for DIF and FRF are presented fairly in all material respects, in conformity with U.S. generally acc...